- HPQ Silicon (HPQ) is updating shareholders on the progress of its PUREVAP Quartz Reduction Reactor pilot plant
- There have been some delays throughout the construction process
- Construction is now approaching 95 percent completion
- Commissioning is expected to be completed in a few weeks
- HPQ Silicon shares is up 4.08 percent, trading at $0.51 at 11:14 a.m. ET
HPQ Silicon (HPQ) has provided shareholders with a progress update on its PUREVAP Quartz Reduction Reactor pilot plant.
The Montreal-based silicon solutions and technology development company, has seen some delays throughout the construction process.
However, PyroGenesis Canada, which has been contracted to build the plant, has now informed HPQ that construction is now nearing 95 percent completion.
“Labour shortages with certain suppliers were the cause of having to push back the commissioning from the end of Q1 to the start of Q2. However, with all the remaining commissioning steps to be done in-house, the testing phase should start within the coming weeks,” said PyroGenesis CEO P. Peter Pascali.
“Rest assured that the delays experienced to date are normal for a project of this type, and that this next milestone will complete the next step towards participating in a marketplace estimated by HPQ to be in excess of 3.8 million tonnes per year worth over US$10 Billion by 2025. We look forward to providing an update on progress within the next 3-4 weeks.”
Commissioning is expected to be completed in a few weeks.
“When the PUREVAP GEN3 QRR pilot plant is functional HPQ will be disrupting Silicon manufacturing, an industry that still relies on a traditional process to make silicon first developed in 1899,” said HPQ President and CEO Bernard Tourillon.
HPQ Silicon is up 4.08 percent, trading at $0.51 at 11:14 a.m. ET.
